EXHIBIT 11 BAIRNCO CORPORATION AND SUBSIDIARIES CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE FOR THE YEARS ENDED DECEMBER 31, 1997, 1996 AND 1995 1997 1996 1995 BASIC EARNINGS PER SHARE: Net Income $8,771,000 $8,335,000 $ 7,781,000 Average common shares outstanding 9,151,000 9,753,000 10,433,000 Basic Earnings Per Common Share $ 0.96 $ 0.85 $ 0.75 DILUTED EARNINGS PER SHARE: Net Income $8,771,000 $8,335,000 $ 7,781,000 Average common shares outstanding 9,151,000 9,753,000 10,433,000 Common shares issuable in respect to options issued to employees with a dilutive effect 199,000 98,000 7,000 Total common shares assuming full dilution 9,350,000 9,851,000 10,440,000 Diluted Earnings Per Common Share $ 0.94 $ 0.85 $ 0.75 Basic earnings per common share were computed by dividing net income by the weighted average number of shares of common stock outstanding during each year. Diluted earnings per common share include the effect of all dilutive stock options.